A Guide To Getting An American Bank Account Without SSN Or ITIN
Having a bank account will make your financial life in the U.S. much easier. We’ve created a guide to getting an American bank account without an SSN or ITIN.
Getting An American Bank Account without SSN or ITIN
A bank account is an essential part of daily financial life in the U.S. Bank accounts are used to pay bills, receive your paycheck, send money to friends and family, and save money. When you don’t have a bank account, life is more expensive. You often have to pay for things like money orders to pay your bills and check cashing services to cash your paycheck. A bank account also keeps your money safe from loss or theft, two things that can happen when you deal in cash.
Contrary to some information out there, you do not need a Social Security number to open a bank account. And while having an ITIN is useful for non-citizens, it is not necessary for opening a bank account.
If you don’t have either of those identification numbers, we’ll explain how you can successfully open a bank account.
Banks that don’t require Social Security numbers
You can open a checking account without an SSN, and you can open a savings account without an SSN too. Banks that accept ITIN numbers as a form of identification are common. Banks that have branches worldwide, including the State Bank of India, are especially accustomed to working with non-citizens who don’t have the same forms of ID that a citizen has and often accept ITIN as a form of identification when opening a bank account.
A checking account is a must-have for your new financial life. A savings account isn’t strictly necessary. You can save money in a checking account as well. But it can be tempting for some people to spend the money in their checking account that they’re supposed to be saving.
So keeping your savings in a separate account can help reduce the temptation. A savings account is an excellent place to stash your emergency fund. Savings accounts also accrue interest.
When choosing a bank, look for one that offers free checking and savings accounts with no requirements such as keeping a minimum balance, having your paycheck direct deposited (although this is a good idea), or setting up auto-pay for at least one bill. There are plenty of banks to choose from, so be sure the one you choose will meet your needs.
Open a bank account without ID
Banks ask for a Social Security number or ITIN as a means of identifying customers. But those numbers are not the only way to identify someone. You can open a bank account with a passport only for ID. You will also need to provide documentation that verifies your address, like a rental agreement or utility bill that is in your name.
If you don’t have a passport or passport card, you will need another form of photo identification like a driver’s license, a military, or a student ID. Many banks post what documents are required to open an account on their websites.
You may also be required to go into a bank branch and open your account in person rather than online. Once the account is open, you can use all of the available online banking features your bank offers.
A bank account is the first step
Opening a bank account is the first step to creating your new financial life in America. At Upwardli, we can help you find the financial resources you’ll need to take the next steps, like opening a credit card to build your credit or taking out a personal loan to refinance existing debt.
We work with trusted partners who understand the unique needs you have in your new country.
